The second installment, which was originally scheduled for
November last year, was delayed due to non-compliance of some
conditions attached to the financial facility. The IMF Executive
Board, however, last week decided to release the loan on request
of the government.

With the release of the loan, the foreign exchange reserve
is expected to cross the $10 billion again, which was $9.88
billion at the end of February. The reserve, however, reached at
a new high of $13 billion on January this year, but fell bellow
$10- billion mark after import payments.

The IMF on April 12, 2012, approved $987 million loan under
the ECF to be disbursed in six installments in the next three
years to help the country maintain a comfortable balance of
payment. The first installment amounting to $141 million was
released on 25 April, after the approval of the loan.